TG Therapeutics (NASDAQ:TGTX) Stock Price Down 5.2%

TG Therapeutics, Inc. (NASDAQ:TGTX) shares were down 5.2% during mid-day trading on Wednesday . The stock traded as low as $18.17 and last traded at $18.19. Approximately 1,335,732 shares changed hands during trading, a decline of 65% from the average daily volume of 3,832,964 shares. The stock had previously closed at $19.19.

Analyst Ratings Changes

Several analysts have recently issued reports on TGTX shares. The Goldman Sachs Group increased their price target on shares of TG Therapeutics from $12.00 to $13.00 and gave the stock a “neutral” rating in a research report on Thursday, February 29th. JPMorgan Chase & Co. reissued an “overweight” rating and set a $25.00 price target on shares of TG Therapeutics in a research report on Thursday, April 18th. HC Wainwright increased their price target on shares of TG Therapeutics from $45.00 to $49.00 and gave the stock a “buy” rating in a research report on Thursday, May 2nd. Finally, LADENBURG THALM/SH SH increased their price target on shares of TG Therapeutics from $39.00 to $40.00 and gave the stock a “buy” rating in a research report on Thursday, May 2nd. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $29.83.

TG Therapeutics Price Performance

The stock’s 50 day moving average is $16.37 and its two-hundred day moving average is $16.06. The company has a debt-to-equity ratio of 0.63, a current ratio of 3.62 and a quick ratio of 2.84. The stock has a market capitalization of $2.77 billion, a PE ratio of 78.04 and a beta of 2.30.

TG Therapeutics (NASDAQ:TGTX) last announced its quarterly earnings results on Wednesday, May 1st. The biopharmaceutical company reported ($0.07) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.02). The company had revenue of $63.47 million during the quarter, compared to analysts’ expectations of $54.60 million. TG Therapeutics had a net margin of 14.24% and a return on equity of 31.34%. The business’s revenue for the quarter was up 713.5% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.28) earnings per share. As a group, sell-side analysts forecast that TG Therapeutics, Inc. will post -0.01 earnings per share for the current fiscal year.

Hedge Funds Weigh In On TG Therapeutics

Several hedge funds have recently added to or reduced their stakes in the stock. Eventide Asset Management LLC purchased a new position in shares of TG Therapeutics during the fourth quarter worth approximately $7,506,000. Wellington Management Group LLP grew its position in shares of TG Therapeutics by 1.4% during the fourth quarter. Wellington Management Group LLP now owns 3,139,764 shares of the biopharmaceutical company’s stock worth $53,627,000 after acquiring an additional 43,290 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of TG Therapeutics by 1.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,131,896 shares of the biopharmaceutical company’s stock worth $19,333,000 after acquiring an additional 19,214 shares during the last quarter. Corient Private Wealth LLC grew its position in shares of TG Therapeutics by 231.6% during the fourth quarter. Corient Private Wealth LLC now owns 93,381 shares of the biopharmaceutical company’s stock worth $1,595,000 after acquiring an additional 65,220 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new position in shares of TG Therapeutics during the fourth quarter worth approximately $345,000. 58.58% of the stock is currently owned by hedge funds and other institutional investors.

TG Therapeutics Company Profile

TG Therapeutics, Inc, a commercial stage biopharmaceutical company, focuses on the acquisition, development, and commercialization of novel treatments for B-cell mediated diseases in the United States and internationally. It provides BRIUMVI, an anti-CD20 monoclonal antibody for the treatment of adult patients with relapsing forms of multiple sclerosis (RMS), including clinically isolated syndrome, relapsing-remitting disease, and active secondary progressive disease in adults.